Behavioral multi-criteria decision analysis: the TODIM method with criteria interactions

Luiz Gomes (), Maria Machado () and Luis Rangel ()

Annals of Operations Research, 2013, vol. 211, issue 1, 548 pages

Abstract: In this paper a multi-criteria decision aiding model is developed through the use of the Choquet integral. The proposed model is an extension of the TODIM method, which is based on nonlinear Cumulative Prospect Theory. The paper starts by reviewing the first steps of behavioral decision theory. A presentation of the TODIM method follows. The basic concepts of the Choquet integral as related to multi-criteria decision aiding are reviewed. It is also shown how the measures of dominance of the TODIM method can be rewritten through the application of the Choquet integral. From the ordering of decision criteria the fuzzy measures of criteria interactions are computed, which leads to the ranking of alternatives. A case study on the forecasting of property values for rent in a Brazilian city illustrates the proposed model. Results obtained from the use of the Choquet integral are then compared against a previously made usage of the TODIM method. It is concluded that significant advantages exist derived from the use of the Choquet integral. The paper closes with recommendations for future research. Copyright Springer Science+Business Media New York 2013

Keywords: TODIM method; Multicriteria decision aid; Decision analysis (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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DOI: 10.1007/s10479-013-1345-0

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